Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

CGX Energy Inc. is a Canada-based oil and gas exploration company. The Company is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in the Berbice, Guyana. The Company holds interests in three petrol prospecting licenses, such as Corentyne, Berbice, and Demerara Blocks in the Guyana Basin. The Company has drilled two operated exploration wells on its offshore Corentyne Block and drilled three more exploration wells on its onshore Berbice Block. In addition, it has acquired and processed over 7,000 square kilometers of three-dimensional (3D) seismic data on its offshore licenses. The Company through its wholly owned subsidiary, Grand Canal Industrial Estates Inc. The Company is engaged in the development of the Berbice Deep Water Port in Region 6, Guyana. Its other subsidiaries include CGX Resources Inc., ON Energy Inc., and others.


TSXV:OYL - Post by User

Comment by waitingstillon Oct 06, 2020 12:31pm
154 Views
Post# 31673794

RE:RE:RE:RE:Hess sells interest in Mexico for Guyana project

RE:RE:RE:RE:Hess sells interest in Mexico for Guyana projectWCP - If CGX has to give up 25% as you suggest, typically they are allowed to select which 25% and it would be the least prospective which would likely either be some of Berbice, or Demarara and maybe Corentyne where it meets the shoreline. I highly doubt HESS would pick up those blocks (maybe Demarara). So I would not worry about that. Even if we get an extension and are still standing with only all of Corentyne, that would be fine for CGX (and us) as it is the crown jewel based on the Northern Corentyne and the surrounding oil finds. That is key here.

If you are waiting for CGX/Frontera (mostly CGX as Frontera does comment in their AGMs and other conferences about Guyana probably moreso than even CGX) to udate shareholders and keep us in the know, you just have to look at CGX website and see that they don't give a rat's a$$ about us and are not going to do anything to give us information unless they are forced. So, as OIL_RUN pointed out, perhaps this public slap in the face will turn this ship around and point us in the right direction and action will speak louder than words. Those actions are: concession extension, 3rd party resource estimate, JV, target announcement and drill date. I do believe once we see the first one (concession extension), the others will not be too far behind. Fingers are crossed and sphinters clenched...
<< Previous
Bullboard Posts
Next >>